Columbus McKinnon Continues to Advance Leading Governance Structure with Changes in Bylaws
13 Julho 2023 - 9:00AM
Business Wire
- Expands exclusive forum provision to State of New York better
aligning with investors’ interests
- ISS changes recommendation to support the reelection of the
Chair of the Corporate Governance and Nomination Committee
Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer
and manufacturer of intelligent motion solutions for material
handling, today announced that on July 11, 2023, the Board of
Directors (the “Board”) approved and adopted amended and restated
bylaws (the “Amended and Restated Bylaws”), which became effective
the same day. The Amended and Restated Bylaws designate any state
court located in the State of New York (a “New York Court”) (or, in
the event that a New York Court does not have jurisdiction, a
federal district court in the State of New York) as the exclusive
forum for certain legal actions involving the Company unless the
Company selects or consents to the selection of an alternative
forum.
The Board determined to amend the bylaws, which previously
provided for exclusive forum in courts located in Erie County, New
York, based in part from feedback from shareholders who, while
recognizing the potential value of an exclusive forum provision
generally, expressed concerns with limiting jurisdiction to only
courts located in Erie County.
With this change, ISS revised their recommendation to advise
investors to vote “FOR” the reelection of the Company’s Chair of
the Corporate Governance and Nomination Committee.
About Columbus McKinnon Columbus McKinnon is a leading
worldwide designer, manufacturer and marketer of intelligent motion
solutions that move the world forward and improve lives by
efficiently and ergonomically moving, lifting, positioning, and
securing materials. Key products include hoists, crane components,
precision conveyor systems, rigging tools, light rail workstations
and digital power and motion control systems. The Company is
focused on commercial and industrial applications that require the
safety and quality provided by its superior design and engineering
know-how. Comprehensive information on Columbus McKinnon is
available at www.cmco.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230713542400/en/
Gregory P. Rustowicz Executive Vice President - Finance and
Chief Financial Officer Columbus McKinnon Corporation 716-689-5442
greg.rustowicz@cmworks.com
Investor Relations: Deborah K. Pawlowski Kei Advisors LLC
716-843-3908 dpawlowski@keiadvisors.com
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